The Accountant for Incorporated Contractors
Reviewed by EverStone CPA · July 2026
You’re on site all day — not chasing receipts. EverStone CPA looks after the corporate tax, T5018s, GST and books for contractors and trades across Abbotsford and the Fraser Valley, at fixed fees quoted up front. See what it costs.
Quick answer: A contractor accountant handles the tax side of running an incorporated trade or consulting business: the T2 corporate return, GST filings, payroll if there are employees, and the yearly salary-versus-dividend decision. EverStone works with incorporated contractors across Canada online, confirming a fixed fee in writing after a free consult.
If your work is construction specifically, the construction and trades accounting hub gathers the holdback, T5018 and job-costing material into a single annotated index.
An accountant who understands contracting
Contracting isn’t like other businesses. Income lands in lumps, materials and equipment eat cash, subcontractors need T5018s, and the CRA looks hard at subcontractor-versus-employee arrangements. Your accounting should be built around that reality — not a generic template.
EverStone works with incorporated electricians, plumbers, framers, excavators, finishers and GCs across the Fraser Valley. One CPA handles your year-end, your filings and your questions — all year, for a fixed fee.
Get your fixed quoteWhat contractors get
- T2 corporate tax & year-end statements
- T5018 subcontractor information returns
- GST/PST filed & reconciled
- Bookkeeping that handles job costs & equipment
- Salary-vs-dividend planning every year
- CRA correspondence handled for you
The problems we fix
The patterns we see on almost every new contractor file.
Missed instalments & deadlines
Lumpy income makes tax instalments easy to miss — and CRA interest adds up fast. We plan your instalments around your cash flow.
Unclaimed write-offs
Vehicle, tools, home office, equipment CCA — contractors routinely leave deductions on the table. We capture them properly and defensibly.
Subcontractor vs. employee risk
The CRA reclassifying your subs as employees is expensive. We structure and document arrangements the right way from the start.
GST filed late or wrong
Progress billing and holdbacks make GST messy. We reconcile it to your books and file on schedule, every time.
Books that don’t match the bank
DIY books drift. We keep yours reconciled monthly so year-end is painless and lenders get numbers they trust.
Paying yourself inefficiently
The wrong salary/dividend mix quietly costs thousands a year. We optimize it annually as part of your engagement.
From first call to filed
Three steps, mostly handled online around your schedule.
Free consult
Tell us about your operation — structure, subs, backlog. You get a fixed quote in writing.
We take over the paperwork
Books, GST, T5018s, payroll and year-end — handled. You get plain-English updates, not jargon.
You keep building
Filed on time, optimized every year, and a CPA on call when decisions come up.
Accounting for your trade, specifically
Every trade has its own tax quirks. We know them.
Electricians
Tool and equipment write-offs, van/CCA claims, and progress-billing GST handled cleanly — whether you’re a one-owner shop or running a crew.
Plumbers & HVAC
Inventory and parts, warranty holdbacks and multi-job costing tracked properly, so your margins are visible and your GST is right.
Framers & general contractors
Subcontractor T5018s, holdback accounting and sub-versus-employee risk managed — the areas the CRA scrutinizes most in construction.
Excavation & site work
Heavy-equipment depreciation, fuel and repair tracking, and financing structured so big-ticket purchases work in your favour at tax time.
Painters & finishing trades
Materials, mileage between jobs and seasonal cash flow planned around, with instalments timed so lumpy income never catches you out.
Landscaping & concrete
Seasonal payroll, equipment CCA and GST on mixed supply-and-install work handled — and WorkSafeBC remittances kept on schedule.
The T5018 deadline, explained
If more than half your business income comes from construction and you pay subcontractors, the CRA requires an annual T5018 Statement of Contract Payments. It’s due six months after your reporting-period end — and you can report on either a calendar or fiscal-year basis, whichever suits your books.
Miss it and the CRA levies penalties per slip. We track your subcontractor payments through the year, file the T5018 on time, and keep your records ready in case the CRA asks questions — it’s part of your engagement, not an add-on.
Get your T5018 handledT5018 at a glance
Who: construction businesses paying subcontractors.
WorkSafeBC too
We keep your WorkSafeBC (WCB) payroll reporting and remittances on schedule alongside your GST and source deductions.
Serving trades across the Fraser Valley
Local, and on your schedule — wherever your jobs take you.
Contractor tax FAQ
Do I need to file a T5018 for my subcontractors?+
Should I pay myself salary or dividends from my incorporated contracting business?+
Can you help me catch up if I’m behind on bookkeeping or tax filings?+
What does an accountant cost for a contractor in the Fraser Valley?+
Can I write off my truck as a contractor?+
What is personal services business risk, and does it apply to me?+
How should holdbacks be treated at year-end?+
Run your own numbers first
No sign-up — quick calculators and straight answers from the CPA who does the work.
What owners say about working with us
Verified 5-star Google reviews from EverStone CPA clients.
“Highly recommend working with Sunny. We switched to him last year for both our personal and small-business taxes — responsive, knowledgeable and quick.”
“Personal. Professional. Responsive. Plus he saved me a bundle!”
“I have worked with Sunny for the past 2 years. He is very knowledgeable and has saved me tons in taxes by restructuring my group of companies — the best accountant I've worked with in the last 10 years, after switching from three different firms.”
Two deductions come up on nearly every contractor file: home office costs claimed through the corporation, which works differently from the employee claim, and the bonus-versus-dividend decision once you know what the year actually earned.
If you want a low-commitment way to test whether your current setup is working, a free second opinion on last year’s corporate return takes two documents and costs nothing.
Locally, see contractors in Maple Ridge for the Ridge Meadows detail.
Trades-specific pages set out what changes by province and by local job mix: Abbotsford, Mission, Aldergrove, Vancouver, Calgary, Toronto, Ottawa. Each covers the sales tax position, subcontractor reporting and holdback timing that apply there.
Related reading
Guides and tools that go deeper on what this page covers.
Get your evenings back
Book a free consultation — bring your questions, your backlog, or both. You’ll leave with a clear fixed quote and a plan.
Related: For incorporated professionals
Related: Construction-specific accounting
Specialized accounting
Contractor accountant in Surrey · Contractor accountant in Langley
Working in the Fraser Valley? We have a page specifically for equipment-heavy trades in Mission.
In energy or technical services? See energy services companies in Calgary.
Contracting in Alberta? See contractors and trades in Edmonton.
Building in the eastern valley? See contractors and trades in Chilliwack.
Running a production shop? See small manufacturers in Maple Ridge.
Building in Manitoba? See contractors and trades in Winnipeg.
Reading up first? The If you contract through a company gathers the classification, subcontractor, equipment and owner-pay guides that apply to an incorporated trade.
Bringing on your first crew member? Hiring an employee vs a contractor sets out the commitments and the risk on each side.
